FS attends APEC Finance Ministers' Meeting in Peru (with photos)
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The APEC FMM provides an annual forum for APEC member economies to discuss current global economic situation and outlook of the region, as well as collaborative initiatives to boost economic growth of the region, including promotion of infrastructure investment and international trade.
In the joint ministerial statement adopted by the APEC FMM, the finance ministers reaffirmed their strong commitment to continued structural reforms that can provide impetus for economic growth. The member economies are also committed to avoiding competitive devaluation of currency as well as to resisting all forms of protectionism in trade.
It was agreed that all available policy tools, including monetary, fiscal and structural tools, will be required in order to achieve the objective of strong, sustainable, balanced and inclusive economic growth in the region.
Mr Tsang today also attended a working lunch with the APEC Business Advisory Council.
On the margins of the APEC FMM meeting sessions, Mr Tsang had a short discussion with the Undersecretary of the Department of Finance of the Philippines, Ms Grace Karen G Singson, on strengthening of collaboration in infrastructure financing. Mr Tsang introduced to her the work of the Infrastructure Financing Facilitation Office (IFFO) recently established under the Hong Kong Monetary Authority.
Mr Tsang also had a bilateral meeting with the Deputy Minister of Ministry of Strategy and Finance of Korea, Mr Song In-chang. They exchanged experience on the development and application of innovative technologies as well as Fintech.
Mr Tsang will start his visit to the Netherlands on October 16, Netherlands time, where he will stay until Monday (October 17, Netherlands time).
Ends/Sunday, October 16, 2016
Issued at HKT 7:10
Issued at HKT 7:10
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